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Ahead of the PLUS Med Mal Symposium in Chicago on March 18 & 19, we remind FPN readers of the two main requests we hear from Medical Professional Liability clients most consistently. Our MPL clients ask to purchase an off the shelf database of aggregated information on loss & experience rated accounts and/or to purchase a structured database of third party data (JHACO, Leapfrog, CMS etc) mapped to accounts. Advisen delivers on both of these fronts.
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What kind of trouble is growing on the "walls" of your employees' favorite social network websites? To find out, download your free copy of Advisen's latest briefing, sponsored by Swett & Crawford.
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Advisen tracks over 5,500 significant Employment cases and events. These records total more than $12 billion in loss and they range from Hostile Work Environment to Whistleblower/Retaliation to Discrimination & Harassment. One of most rapidly expanding case types is Wage and Hour. There are 488 records marked Wage and Hour totaling over $2.8 billion in our database currently.
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What are the vulnerabilities of copyright infringement and how can you avoid those perils? Step one is reading a free copy of Advisen's newest briefing which is sponsored by Swett & Crawford. We operate in an era when copyright-protected material can be replicated and transmitted across the globe with a few keystrokes. Companies need to be vigilant about avoiding lawsuits, and perhaps even criminal prosecution, for inadvertent copyright law violations. Websites are particularly vulnerable to copyright issues because of their visibility and the ease with which copyright violations can occur in digital media. This report is part one in a three-part series.
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Selling, buying or writing coverage is easier when you have over 45,000 large loss examples at your fingertips. Advisen's loss database totals over $3.25 trillion and covers cases that are Securities, Recalls, Product & Services, Employment, Professional Services, Cyber and more. Justify higher limits by filtering our list to find the exact set of losses that meets your criteria. Use this database to see which large losses might trip their new policy language. Identify uninsured or underinsured exposures. We call this database MSCAd for Master Significant Cases and Actions database; it's entirely online.
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We have over 3,250 forms loaded in Advisen.com, and we have reduced our pending backlog to almost zero. Struggling to see the wording differences between two or more forms? Ahead of your upcoming renewals, compare conditions, definitions, exclusions and topics across our collection of 3,250 forms. The whole display exports to Microsoft Word, and you can easily compare wordings side-by-side with the click of a mouse. To view changes between carriers or how a new form differs from an older version, Advisen simplifies this process and saves you hours.
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Can you accurately underwrite or price D&O while lacking a complete loss picture? Based on your source, the number of securities suits for 2009 differs. This is chiefly because different sources count different things as a securities suit. More importantly, if you think the number of Securities Cases declined in 2009, think again. Advisen's data clearly shows increases in certain categories of D&O Claims Events.
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For marketing agendas, the comfort zone gets uncomfortable fast when production is on the line. If brand loyalty is no longer assured, flogging the same old routines to get a lesser response is a bad strategy for growing your insurance business. Advisen's Joan Kelly argues why you lubricate your marketing strategies and campaigns by breaking out of the mold in 2010.
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Are you broking or underwriting D&O and E&O? Ahead of the PLUS D&O Symposium in New York in early Feb, we overview the array of Advisen data & analytics that applies to this sector. Here are the Top 10 Reasons why a Management Liability or Professional Liability underwriter or broker should be working with Advisen.
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ADVx is now updated through December 31, 2009. Talking to insurance buyers about their program relative to market trends? Explaining insurance trends to a Board of Directors or senior management? Advisen's Premium Indices, ADVx, easily illustrate insurance market trends and have been updated with Q4 2009 data. The Composite index, a weighted average of the Property, General Liability, Workers Compensation and D&O indices, indicates the extent that commercial insurance rates have softened.
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When your client asks you how much coverage other companies buy, how do you answer? Advisen now offers ala carte Benchmarking - You can buy just one at a time. When you need to show your client how they compare to typical limits, premiums, retentions, you can buy a single Benchmark from Advisen's Corner Store. Is your client's rate per million in line with other companies? We tell you that.
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With your Jan 1 renewals behind you, use this time to see how Advisen can help you best prep for your next renewal round. For P&C producers, account execs and underwriters, Advisen helps you drive your book. New for 2010, Advisen offers both more training and more "Do It For You" services.
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Aon acquired Carpenter Moore, Allied North America; Marsh bought HSBC Insurance Brokers and NIA Group. AJG acquired Triad in Hawaii, Wells Fargo bought Sierra Self Insurance
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Looking back at all the Benchmark graphs we generated for clients or supported on our help desk this year, one specific P&C...
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How do carriers decide where they should expand? What new products are really good ideas that can be implemented? How should the existing product line be changed? In challenging economic times, your due diligence and target market analysis must be strong to assure you of the highest return on your product offering decisions. Read here to learn how Advisen assists Carriers with Market Segmentation Studies.
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There are 10 million people now associated with the 13 million insureds listed in Advisen. You can look up any person by name to see which companies he/she belongs. If you are prospecting or simply trying to keep closer tabs on your biggest clients, this database is pretty valuable. You can also screen Advisen's People database to find insurance underwriters, brokers and buyers within the Advisen Insurance Community.
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Advisen's two best selling books are on a special holiday sale: The 2009 RIMS Benchmark Survey Book and How to Manage Your Workers' Compensation Program & Reduce Your Costs 20 - 50%! Buy either title between now and December 31, 2009, and we'll send you a second copy for free. That's the perfect gift for your most valuable client.
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Here are five key steps: Find out where you are; Compare your current best practices to the industry best practices; Planning tools; Document development; and Present to management. >> Download PDF
In this article, Rob Ekern argues that a well-crafted Stewardship Report prevents the flow of revenue out the brokerage door. Stewardship Reports are a detailed analysis of your past performance and projection of future goals for your larger accounts. For the past several months, Advisen has assisted our clients in the creation of Stewardship Reports. Read Rob Ekern's article here as well as learn more about Advisen's Stewardship Report creation capabilities.
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Some FPN readers want to stay informed; others are insurance news junkies. Plenty of readers say they forward our material to others. Our editors believe the common thread amongst FPN readers is not wanting to get caught off guard when it comes to an important P&C story. Each business day we push our Front Page News e-mail to over 95,000 readers.
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The number of shareholder suits filed in European courts is substantially up, according to Advisen's latest 20 page briefing on European D&O. With changing European laws requiring new disclosures, enhanced shareholder protections, and greater transparency, the trend leads to a "more collective-friendly civil legal system." The bottom line is that directors of European companies are more likely than ever to be sued by disgruntled shareholders, and D&O insurance is one of the fastest growing insurance products in Europe.
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Do you suffer from "Dirty Data"? Does your client database get compromised by duplicate entries, non-standardized fields, incomplete fields, lack of hierarchal structure, etc.? If you are unable to keep current with company changes and corporate actions, such as M&A activity, financial changes, exposure changes, then look no further. Advisen Data Services can help you clean up your client or company database!
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Generate a list of large losses and then convert that list into a LOSS PIE CHART with one click. Download your pie charts to Word so that you can add your comments and/or include in presentations. MSCAd on Advisen is our Master Significant Cases and Actions database. With over 42,000 loss cases fully detailed, use our summary pie charts to help your client or prospect appreciate the pain other companies have felt. Click here to see five examples of our delicious new pie charts.
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Advisen surveyed readers of the Professional Liability Special Edition of Front Page News about the impact of the meltdown of the subprime mortgage market and the ensuing credit crisis and recession on D&O and E&O underwriting and claims. Two thirds of respondents are D&O or E&O underwriters and brokers with a specialization in D&O or E&O.
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Advisen surveyed readers of the Professional Liability Special Edition of Front Page News about the impact of the meltdown of the subprime mortgage market and the ensuing credit crisis and recession on D&O and E&O underwriting and claims. Two thirds of respondents are D&O or E&O underwriters and brokers with a specialization in D&O or E&O.
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Please take a few minutes to participate in Advisen's Instant Gratification Survey on the impact of subprime/credit crisis/recession events on professional liability underwriting and claims. The results will be published tomorrow in the PLUS Special Edition of Advisen FPN. Your input is important! Take five minutes and share your insights at https://www.surveymonkey.com/s.aspx?sm=QGSR0_2bUAreOlwUg9AKja4A_3d_3d
Advisen.com's latest software v7.8 adds power for Underwriters and Brokers. New Company Type definitions have been added to best describe an insured's relationship with a parent company. SEC docs with links to As Reported Data are now standard. Interactive financials have been expanded, too. We now also track at least one key executive for almost 5 million companies. Catastrophes and Natural Disaster cases have been added to our online Large Loss database and we've made the output of charts and cases easier to obtain. The S&P Rating expansion package has also been added as a new premium service for D&O and Surety underwriters. Click here for more details as well as a link to our latest release notes.
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Size matters for insurance brokerages, according to Advisen's 19-page report, "Insurance Broker Economics: The Carousel of M&As." Accordingly, the frenetic pace of consolidation in the brokerage sector will only be temporarily slowed by the global economic recession. This report has been referenced by leading business news providers and offers a primer on the economics of the industry
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Talking to insurance buyers who don't follow the markets tick-by-tick? Explaining insurance trends to a Board of Directors or senior management? Advisen's Premium Indices, ADVx, easily illustrate insurance market trends and have been updated with Q3 2009 data. The Composite index, a weighted average of the Property, General Liability, Workers Compensation and Directors & Officers indices, indicates the extent that commercial insurance rates have softened.
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Economists have declared the Great Recession over, but its lingering effects will continue to chip away at commercial property & casualty premiums through 2010. According to a new Advisen Ltd. briefing, the damaged economy will keep rates from rising while at the same time sales, payroll and other measures of exposure used to calculate premiums may fall further. The cumulative effect will be another year of lower written premiums - a boon for insurance buyers, but a painful and potentially damaging situation for some insurers and, especially, brokers.
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Due in part to pressure from former New York Attorney General Eliot Spitzer, the largest brokers have shifted their acquisition strategy from vertical integration - owning the supply chain - to achieving greater breadth and depth across more market segments, focusing on both niche opportunities and the vast middle market. This strategy pits the mega-brokers against mid-tier firms that have been very successful with the middle market.
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Top sales and account management talent is essential for brokerage firms in the highly-competitive middle market, but even the most talented people are at a disadvantage without thorough and timely information about clients and prospects, according to a new report, "The Battle for the Middle Market: The Role of Information in Creating a Sustainable Competitive Advantage," from Advisen Ltd.
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Ever scramble for info about mold, fleet safety, ergonomics, patient safety, claims or any other of the thousands of topics that insurance professionals deal with daily? If you need to create a procedure, checklist or other document and wish you had a starting point, you'll appreciate the newest addition of rmLibrary, now licensed for all Advisen.com clients. rmLibrary consists of 25,000 resources which have been described, categorized, and tagged for insurance and risk management purposes.
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If you are a student in an undergraduate or graduate program, Advisen offers you a free upgrade to our Professional edition of Front Page News. To qualify, register for Front Page News listing your ".edu" e-mail address and indicate that you are a student. We will upgrade you to the Professional edition of FPN that allows you to read the full text of each story. Risk Management Students and Professors: Read here for more details as well as Job Postings and Job Wanteds.
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What can healthcare organizations do to prevent patient handling injuries? Join us for this web seminar and learn the steps to create and implement an effective safe patient handling program that will keep your valued caregivers safe. >> Download PDF
Ante up at this year's International PLUS Conference in Chicago which will feature a Texas Hold 'Em Poker Tournament on Thursday evening, November 12 from 9pm to midnight. Where's the action? Over 300 Underwriters, Brokers, Attorneys and other commercial insurance professionals vying to be champion. Seats are $150 and benefit the PLUS Foundation so your Poker ticket is a write-off, too. Go to http://www.plusfoundation.org/chips-for-charity.html for more details. Wear your lucky shirt, join the fun and help a great cause. >> Download PDF
Advisen helps Underwriters pinpoint exposure issues and Advisen helps Brokers sell and retain clients. Join one of this month's quick training sessions to see how to best utilize Advisen.com for insight into this challenging marketplace. >> Download PDF
Advisen.com has added a new category of Cyber-Technology to our Policy Form Comparison tool to help you compare wordings and provisions side-by-side. For 130 global forms comprising all types of technology services, media, network security, and data privacy & theft forms, we now track and fully delineate verbiage for coverage terms and insuring agreements, 20 different conditions, 26 different definitions, and 39 different exclusions. Advisen.com also contains 1,730 Cyber-related LOSS EVENTS to show exposure examples, WHO WRITES WHAT COVERAGE WHERE for Cyber Markets as well as BENCHMARKING, and a NEWS SEARCH that puts all Cyber exposure stories and examples in one place. >> Download PDF
2009 Workers Compensation Forum, A Focus on the Cost Drivers. more...
Are you a RIMS (Risk and Insurance Management Society) member who has lost your job recently due to the economic crisis or a consolidation or merger? Do you know a fellow risk professional and former RIMS member who let his/her membership lapse when the job ended? Advisen wants to make sure you know that the RIMS Board of Directors has waived Society membership dues for up to two years for Deputy or Associate members who have lost their positions. more...
Looking for more objective ways to set limits for Directors & Officers liability insurance? Advisen's analytical toolkit has expanded with a new D&O Severity Model (Beta) that identifies the potential size of a D&O settlement. For Risk Managers, the notion of "potential settlement size" can be useful to evaluate limits. This model reviews each company using inputs to account for stock price fluctuation, trading volume, market cap, location, and industry classification. more...
Employers with unions face very different and unique challenges not faced by non-union companies. There are many ways to gain cooperation with the union for new programs such as return to work and transitional duty. If you feel that your workers' comp costs are predetermined due to union involvement, consider these simple steps to change that paradigm. more...
Is your Broker worth what you are paying? Is your Broker paid by fee or commission? What services does your Broker provide for that compensation, and how do those services compare to what other buyers say they receive? This year's 2009 RIMS Benchmark Survey contains our annual study of Broker services and fees. more...
Where do you go for reliable, independent information about insurance and risk management costs and purchasing trends? How do you know that you are buying the optimal insurance program for your company at competitive prices? The RIMS Benchmark Survey is the definitive resource regarding Total Cost of Risk, including data on premiums, limits and retentions across commercial insurance lines for US and Canadian companies. more...
Many employers don't know that workers' compensation costs ARE controllable. They often think workers' comp is simply a cost of doing business. While some types of overhead cannot be managed, workers' compensation costs CAN be controlled. By exercising a short list of simple steps, most employers can reduce their workers' comp costs. more...
Do you sell or write Management Liability cover for UK companies? AIRMIC has partnered with Advisen to produce detailed aggregate data of D and O insurance programmes purchased by risk managers. This AIRMIC D and O Benchmark Survey is the first exercise of its kind ever in the UK with 277 AIRMIC member companies taking part. Purchase the full report for US$150 via the Advisen Corner. more...
Click here to access a free audio podcast discussing the broader issues connected with securities, derivative and regulatory litigation against today's executives from ACE USA, the U.S.-based retail operating division of the ACE Group of Companies. In this 26 minute podcast, ACE Professional Risk SVP. more...
Demonstrate to Senior Management how devastating the cost of workers' compensation can be to the bottom line. While they may see the premium dollars going out the door annually, they may not see the costs paid within the deductible, and they may not know what the full impact of these costs is. The Free Calculator in the Workers Comp Kit puts these costs into perspective. more...
Preparing for July 1 renewals? When a client says, "Show how my $30M excess liability limit compares to those in place for similar organizations," how do you respond? Advisen now has over 1.25 million commercial insurance programs stored online. Compare current and historical premiums, limits and retentions as well as rate on line and other similar ratios. No other source has more benchmark data to help you with renewals. more...
Whatever happened to the good old days of loyalty coupled with an insurance broker who provides better value than their competitors? In these tough times as all sectors of the economy struggle to tread water, many of us are probably wondering why accounts that we have had for ten or twenty years sometimes head for the door. There is one answer: The bottom line. This article was written by Adam Raffa, a Producer at DeWitt Stern. more...
Whether you want to know where to start in reviewing significant developments since the last renewal or last conversation, or you want to read each and every story during exposure analysis, Advisen News can help. more...
With the Wall Street Journal and the NY Times writing about the similar composition of the Board of Directors at Google and Apple, we remind you that Advisen.com features a Company Interlock display to show you where Directors and Officers at public and private companies are affiliated with other companies. If you are reviewing the possibility of antitrust issues or other risks related to management liabilities coverages, you'll appreciate this simple way to see other places where Directors and Officers serve. more...
Ever scramble for info about mold, fleet safety, ergonomics, patient safety, claims or any other of the thousands of topics that insurance professionals deal with daily? If you need to create a procedure, checklist or other document and wish you had a starting point, you'll appreciate the newest addition of rmLibrary, now licensed for all Advisen.com clients. rmLibrary consists of 25,000 resources which have been described, categorized, and tagged for insurance and risk management purposes. more...
Underwriting or Broking D&O for FI? The year 2008 was a challenging one for underwriters of publicly-traded Financial Institutions (FI). Many high (and low) profile FIs were subject to Securities Class Action Suits (SCAS). Advisen's Value-Investing Risk Tools (VRT) help claims dodgers, but we wanted to see how well VRT and its companion, Advisen's Total Accrual metric (ATACm) would have helped dodge 2008 FI claims. Users of these tools for FI's in 2008 were able to dodge a majority of the SCAS affecting these companies. more...
Commercial insurance follows a boom-and-bust pricing cycle that, conventional wisdom proclaims, is largely uncorrelated with broader economic cycles. But the current recession is different. The severity of the economic crisis will adversely impact both the top lines and bottom lines of commercial insurers, making for a turbulent 2009. more...
Within Advisen's Large Loss database of 30,000 entries are now over 750 Related Cases. These Clash Events and Catastrophes are incidents where two or more Large Loss entries are linked to a single underlying cause. Some are CLASH situations, some are CATASTROPHES, others are just good examples of BAD THINGS happening in clusters. While we debate the terms of clash vs. catastrophe, if macro situations with names like Enron, Madoff, Refco, PCB contamination, Vioxx, Subprime, etc., torment or threaten your book of business, you should find our fully-indexed and detailed listing of over 750 Related Events extremely useful. more...
When was the last time you spoke to your clients about Cyber exposures? If you are reviewing Cyber Liability, our 5 related Advisen Cyber functionalities are presented here. We have a POLICY FORM library online which contains Cyber Liability forms to compare, 1,238 Cyber-related LOSS EVENTS to show exposure examples, WHO WRITES WHAT COVERAGE WHERE for Cyber Markets as well as BENCHMARKING, and a NEWS SEARCH that puts all Cyber exposure stories and examples in one place. Amidst a soft, but potentially volatile market, this rapidly evolving insurance solution is being purchased by an expanding group of companies. more...
The RIMS Benchmark Survey is especially important in today's market and risk manager and broker readership is way up. There are cost-effective ways to get your firm's logo on this newsletter, in print in the annual book printed by RIMS and Advisen. You'll be reaching close to 100,000 industry professionals including key decision-makers with this combination of print and on-line. more...
The global web of Madoff litigation is growing and becoming more complex. With new actions from South America and Belgium as well as from the Coughlin Stoia and Pomerantz law firms, the number of worldwide cases in Advisen's Large Loss database related to the Madoff Scandal is now 119. These 119 cases are a small part of our 27,500 online Large Loss archive. But when reviewed as a group, the 119 Madoff cases rank just below our top clash events like Subprime (681) and Stock Option Grants (278). If you need to track the details of the ever-expanding Madoff litigation, or if this data can help you avoid a related risk, find an exposure, or position a coverage need, turn to MSCAd, Advisen's Large Loss database more...
Differentiate your services and build a branded wall around your largest and most valuable clients! Stewardship Reports are a detailed analysis of your past performance, and projection of future goals, for your large ($50k+ commission/fee revenue) accounts. They include historical narratives, accomplishment timelines, benchmarking, statistical analysis, modeling, market conditions and forecasts, and much, much more...
Don't you hate reading really "amusing" claim notices after the fact on accounts you wrote? Advisen combines predictive modeling tools with Large Loss data to help you AVOID pesky events like "CEOs who don't divulge quite everything" or "R&D people who neglect to disclose their complete test results." more...
Ahead of the PLUS D&O Symposium in New York this month, we present Advisen's latest Management Liability capabilities. more...
Some Advisen underwriting clients are reporting that submissions are 4 times higher than the same period a year ago. Advisen addresses this increased underwriter workload issue in 2 ways. more...
Selling, buying or writing coverage is easier when you have 27,500 large loss examples at your fingertips. more...
Advisen's broker clients regularly use our Benchmarking Reports to identify limits that should be increased or new risks for which additional insurance should be purchased - i.e. new revenue streams! more...
Consultative Selling. You've heard the phrase, but how do you do it? With Advisen Benchmarking Reports (ABR) you will identify shortfalls in coverage and needed new coverage. Objectively. Whether you are a Retail or Wholesale broker you will place more insurance. Consultatively. more...
With new actions from South America and Belgium as well as from Coughlin Stoia and Pomerantz, the number of worldwide cases in Advisen's Large Loss database related to the Madoff Scandal has hit the 100 mark. These 100 cases are a small part of our 27,500 online Large Loss archive. But when reviewed as a group, the 100 Madoff cases rank just below our top clash events like Subprime (664) and Stock Option Grants (264). If you need to follow the details on this ever-increasing list of Madoff cases, or if this data can help you avoid a related risk, find an exposure, or position a coverage need, turn to MSCAd, Advisen's Large Loss database. more...
Selling, buying or writing coverage is easier when you have 27,500 large loss examples at your fingertips. The Advisen Large Loss database totals $900 billion and covers cases that are Securities, Recalls, Product & Services, Employment, Professional Services, Cyber and more. Identify uninsured or underinsured exposures for your company, your clients, or within your portfolio. Justify higher limits by filtering our list to find the exact set that meets your criteria. Use this database to see which large losses might trip the new policy language. We call this database MSCAd for Master Significant Cases and Actions database; it's entirely online. Click here to see examples. more...
Coming out with a new product AND a new form? Are you comparing your wording to what is already in the marketplace? The Advisen Policy Form archive now contains over 2,500 forms. We have captured each provision as a unique data field so you can easily compare wordings side-by-side. Compare conditions, definition, exclusions and topics. The whole display exports to Microsoft Word so you can easily show how the forms really differ. Whether it is changes between carriers or how a new form differs from an older version, Advisen simplifies this process and saves you hours. more...
Advisen Front Page News is the fastest way to be briefed on the top stories of the day in your market. Don't miss an important news story culled from over 3,000 global news sources and don't be behind the times by relying on this Digest edition. Subscribe to the Professional edition to get the news at 7:30am EST (versus 10am) and to read each article in full. Follow news on clients, prospects and trading partners; stay current with the People on the Move column; and keep up with the latest litigation and regulatory developments. more...
When you are making a loss pick or estimating losses for clients or prospects, you need your historical loss data and exposure data. Next, you might hire an actuary or create some complicated spreadsheet. Advisen has created a loss pick analyzer that is "s-e-x-y" and easy to use (though we doubt there is anyone in commercial insurance who would use the terms "s-e-x-y" and "loss pick" in the same sentence!) Located under the Losses & Exposures dropdown menu, Advisen's Loss Triangle leads you step-by-step through the process and produces some powerful charts that easily download to Word. more...
Selling, buying or writing coverage is easier when you have 18,071 large loss examples at your fingertips. Advisen's loss database totals over $617.5B and covers cases that are Securities, Recalls, Product & Services, Employment, Professional Services, Cyber and more. Justify higher limits by filtering our list to find the exact set that meets your criteria. Use this database to see which large losses might trip their new policy language. Identify uninsured or underinsured exposures for your company, your clients, or within your portfolio. Contact support@advisen.com for more info. We call this database MSCAd for Master Significant Cases and Actions database; it's entirely online. more...
Are you comparing two or more policy forms side-by-side? Our Policy Form archive now exceeds 2,500 forms. We display form comparisons by provision with just one click. Compare conditions, definition, exclusions and topics. The whole display then exports to Microsoft Word so you can easily show your client how the forms really differ. Whether it's changes due to switching carriers or how a new form differs from an old version, Advisen simplifies the process and saves you hours. Contact support@advisen.com for more info. more...
Two main reasons: A free copy of the RIMS Benchmark Survey book and a free subscription to the full Professional edition of Advisen's Front Page News. Simply by sending your policy data or copies of your Schedules of Insurance, along with summaries of your retained losses, you benefit. We keep you abreast of the latest P&C daily news AND we help you to Benchmark your insurance programs by comparison with your peers. Submit your data at www.RIMS.org/contribute or contact us at RIMScore@advisen.com with questions. As January 1 renewals roll around, this is great time to remember the benefits of contributing your policy data. more...
Advisen is the insurance industry's best source for information on private & public companies because Advisen relates business information to insurance market data, such as insurance policies, losses and exposures. With over 13 million companies and subsidiaries listed in Advisen, you can access any one for review or you can filter the entire list by SIC codes, geography, revenues or dozens of other variables for new business prospecting, market-sizing purposes, or simply to better analyze peer group exposures and losses. more...
Advisen has quickly become the commercial insurance industry's best kept secret for advertisers. With a reach of 85,000 insurance professionals, Advisen's audience includes decision-makers among Risk Managers and other Insurance Buyers, as well as brokers and underwriters. more...
Underwriting or broking coverage to public companies? Use Advisen's Watchlist to generate e-mail alerts about their significant recent SEC filings. We now push a single daily e-mail alert to you when there is material from the previous day that you need to know more...
Over 2,200 Consumer Product Safety Commission (CPSC) Product Recall events have been added to Advisen’s Large Loss database covering 281.6 million recalled items. About 30 or 40 new CPSC recalls are announced every month, and our database contains almost all since 2002 more...
Some Advisen underwriting clients are reporting that submissions are 4 times higher than the same period a year ago. Advisen addresses this increased underwriter workload issue in 2 ways. First, we build Custom Underwriting Work Ups that harness our dataset of exposure elements on 13,000,000 insureds more...
The Advisen Total Accrual metric (ATACm) is proven over 12 years to be a reliable indicator of Securities Class Action Suit risk, including for European companies with ADR programs. ATACm provides powerful insight into the risk of companies. On average since 1995, 35% of these suits were filed against the 10% of companies with the riskiest ATACm scores. If you are writing, broking or buying Public Company D&O, check the ATACm score on Advisen first. For European companies without ADR programs, ATACm offers a proxy risk score.more...
The Advisen Total Accrual metric (ATACm) is proven over 12 years to be a reliable indicator of Securities Class Action Suit risk, including for European companies with ADR programs. ATACm provides powerful insight into the risk of companies. On average since 1995, 35% of these suits were filed against the 10% of companies with the riskiest ATACm scores. If you are writing, broking or buying Public Company D&O, check the ATACm score on Advisen first. For European companies without ADR programs, ATACm offers a proxy risk score.more...
Advisen offers 15 unique ways to make your service and coverage offerings known to a wider commercial insurance audience. From New Product Announcements to People on the Move, some involve advertising via products like this Front Page News e-mail while others involve standard uses of our Advisen platform. Many of these ways which herald your company's capabilities and your brand to our global audience have no fee associated with them. Review this marketing checklist or e-mail it to your Chief Marketing Officer.more...
When you're making a loss pick or estimating losses for clients or prospects, you need your historical loss data and exposure data. Next, you might hire an actuary or create some complicated spreadsheet. Advisen has now created a new loss pick analyzer that is "s-e-x-y" and easy to use (though we doubt there is anyone in commercial insurance who would use the terms "s-e-x-y" and "loss pick" in the same sentence!) However, located under the Losses & Exposures dropdown menu, Advisen's Loss Triangle leads you step-by-step through the process and produces some powerful charts that easily download to Word. Suffice it to say that this new functionality is extremely good-looking! Contact support@advisen.com for more info.more...
Where do you go for reliable, independent information about insurance and risk management costs and purchasing trends? How do you know that you are buying the optimal insurance program for your company at competitive prices? The RIMS Benchmark Survey is the definitive resource regarding Total Cost of Risk, including data on premiums, limits and retentions across commercial insurance lines, as well as in-depth information on retained losses and risk management administrative expenses for US and Canadian companies. This year's edition has outsold all previous editions. Ahead of your fall renewals, order a copy at www.RIMS.org/book.more...
The Risk and Insurance Management Society (RIMS) and Advisen, Ltd. announce the release of the Broker Services and Remuneration Study as part of the 2008 RIMS Benchmark Survey book. The study - based on data gathered in February from 1,519 participants - has found that insurance buyers are driving brokers to change their service offerings and the way brokers are compensated.The study is the first comprehensive analysis of the relationship between commercial insurance buyers and brokers since the industry tumult of 2004-2005. more...Benefiting from the dynamics of a doggedly soft market in which brokers have shifted the basis of competition to offerings of new services and aggressive pricing models, insurance buyers are demanding a wider array of service options. For the industry's largest programs, buyers are spending the majority of their broker money on fees instead of commissions, the study reports.
The Broker Services and Remuneration Study documents the current state of the brokerage market with the purpose of enabling risk managers to benchmark broker costs and services, and identifies a number of key trends affecting broker pricing models and new service offerings. Buyers were surveyed on how their brokers are compensated, how much their brokers receive for their services and what types of services their brokers provide.
While virtually all survey respondents continue to use brokers to place insurance programs, the majority agree that brokers are shifting from commissions to fee-based compensation. With this shift towards fee-based pricing, respondents note a broker trend towards supplementing dwindling commission income with added services. The study quantifies the differences in average costs to insurance buyers of fee-based broker remuneration, as opposed to traditional commission-based remuneration.
The study also quantifies services that buyers feel are missing from their brokerage programs. A surprisingly large number of respondents indicate that they do not receive certain Market Placement services within the standard services covered by normal broker compensation. The study also enumerates a string of Loss, Exposure and Financing analysis services, which many buyers?nearly 40 percent in some cases?would be willing to purchase if they were offered by their broker. Additionally, there remain significant differences by size of company and industry group in the types of services provided.
"The Broker Services and Remuneration Study as part of this year's RIMS Benchmark Survey? book combine to create an invaluable resource for risk managers,? says John R. Phelps, ARM, CBCP, CPCU, member of RIMS Board of Directors and director of business risk solutions for Blue Cross and Blue Shield of Florida, Inc. "This is precisely the type of market intelligence that buyers seek as they navigate the migration to fee-based pricing and witness introduction of new services.?
"Broker fees and services are areas that have undergone tremendous change over the past decade,? says David Bradford, editor-in-chief of Advisen, Ltd. "Most of those changes have resulted from competitive pressures and advances in technology; but some, especially the demise of contingent commissions for large brokers, have been imposed from the outside by regulators and law enforcement agencies. Whichever the reason, today's soft market has the buyer in the driver's seat looking at brokers to differentiate themselves through pricing models, service offerings and high-touch relationships.?
The Broker Services and Remuneration Study is only available as part of the 2008 RIMS Benchmark Survey? book. Purchase orders are now being taken for the book online at www.RIMS.org/book. Special discounts apply to RIMS members and survey data contributors.
Insurance professionals use the RIMS Benchmark Survey? to monitor and evaluate programs, help negotiate program costs and design, and navigate the latest risk management trends. Advisen, Ltd., which collects and analyzes the data for RIMS, publishes quarterly updates on premiums and the annual RIMS Benchmark Survey? book. The book adds to the quarterly premium updates with a thorough analysis of total cost of risk per $1,000 of revenue, including what losses were retained by insurance buyers and the change in their costs of administering risk management.